U.S. Treasury yields were slightly higher on Friday as investors awaited the latest personal consumption expenditures price index, the Federal Reserve’s favored inflation measure.
At 3:15 a.m. ET, the yield on the 10-year Treasury was up by one basis point to 4.2980%. The 2-year Treasury yield was last at 4.7244% after rising by less than one basis point.
Yields and prices move in opposite directions. One basis point equals 0.01%.
Investors are looking to the release of the latest inflation data that could provide hints about the state of the economy and the path ahead for monetary policy.
The personal consumption expenditures price index is expected to be flat in May from the previous month, and 2.6% higher on an annual basis. So-called core-PCE, which excludes food and energy prices, is anticipated to have risen 0.1% on a monthly basis and 2.6% on from a year earlier.
Personal income and spending data as well as consumer sentiment…
